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Duplicate of Financial Literacy Flashcards | StudBud
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Duplicate of Financial Literacy
Duplicate of Financial Literacy
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5th grade Financial Literacy vocabulary
Flashcards
21 cards
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Practice quiz
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Host live
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Questions
21
Answers
1
DATA ANALYSIS & PERSONAL FINANCIAL LITERACY
F
G
H
J
2
PERSONAL FINANCIAL LITERACY
C
A
B
D
3
What is a disadvantage about using a credit card instead of a debit card?
Money comes out of your account
The bank doesn't like it when you use your credit card
You have to pay interest on a credit card
4
DATA ANALYSIS & PERSONAL FINANCIAL LITERACY
B
D
C
A
5
A ______________ is when you take money out of your bank account.
Credit
Balance
Debit
Deposit
6
How is gross income different than net income?
Gross income is money earned before taxes & net is after taxes
gross income=$ spend on bad stuff & net inclome is $ spent on good stuff.
Gross income helps the government but net income doesn't
7
Unit 6 -
Financial Literacy
Eliminate savings in December.
Ask her parents for more money.
Apply for a loan in December.
Reduce her expenses in December.
8
Money that is put into your bank account
balance
deposit
money
withdrawl
9
Unit 6
-
Financial Literacy
Both A and B
Gross income
Net income
None of the above
10
A plan for how much income will be received and how it will be spent is called a _____________.
Checks
Budget
Savings
Money Plan
11
Unit 6 -
Financial Literacy
Debt is created.
All of the above.
Fees and interest may be charged.
Debt is sometimes difficult to repay.
12
Why is financial literacy important?
to know the basics of personal fiance and money management
to understand how to build wealth
to better understand credit scores, risk, interest rates
All of the above
13
What is income tax?
money collected when people buy goods or services
money withheld by employers from income earned by employess
money filed once a year by people who work
14
What is property tax?
filed once a year by people who work
money paid by people who own land or property
money collected when people by goods or services
15
The total amount of money that you earn.
Gross Income
Income Tax
Net Income
Paycheck
16
What does financial literacy mean?
spending money
saving money
understanding money
loving money
17
The _______________ is the amount of money in your bank account.
Amount
Balance
Income
Deposit
18
When the total amount of money spent, saved and shared equals total income.
Balanced Budget
Good Budget
Income
Outcome
19
Money people pay to support the government
property
payroll
sales
taxes
20
The amount of money you receive after deductions are subtracted from your gross income.
Net Taxes
Gross Income
Income Tax
Net Income
21
DATA ANALYSIS & PERSONAL FINANCIAL LITERACY
A
D
B
C
